Xiaomi Official Asks Largest IPO in the World Since 2014

Vendor samrtphone China, Xiaomi officially requested public offering of shares IPO ( initial public offering / IPO ) in Hong Kong. Xiaomi’s debut in the stock market is expected to be the largest since 2014.

In 2014, Alibaba Group listed itself as China’s largest technology company with the world’s largest IPO, on the New York Stock Exchange. In that year, Alibaba Group recorded the highest valuation figure of 25 billion US dollars.

Reported from Bloomberg, Friday (4/5/2018), has not mentioned exactly how much funding is targeted Xiaomi. But sources say Xiaomi is targeting at least $ 10 billion in its initial share sale in Hong Kong to reach a $ 100 billion valuation.

Xiaomi became the first major publicly traded company in Hong Kong, since there have been changes to the rules allowing different classes of shares to be submitted. According to research firm IDC, Xiaomi became the fourth largest smartphone brand in the world, with global shipments of 87 percent year-on-year in the quarter.

From January to March 2018, Xiaomi shipped 28 million devices, up from the same period last year with shipments of 14.8 million units. The shipping spike is expected to come from its expansion into India. When China’s smartphone industry is sluggish, Xiaomi can still almost double its market share.